Insurance news

• Layoffs announced at ACE Insurance in Salem - WDBJ7

  05-10-2016 23:58 via wdbj7.com
  
  WDBJ7
  Layoffs announced at ACE Insurance in Salem
  WDBJ7
  One woman, Jean Scales, said about 60 employees lost their jobs effective sometime in mid-to-the-end of December. Scales has been with the company for 37-years in the document management department. She said these layoffs were not unexpected.
  
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• Auburn considers health care savings through union with Cayuga County insurance consortium - Auburn Citizen

  05-10-2016 23:42 via auburnpub.com
  
  Auburn Citizen
  Auburn considers health care savings through union with Cayuga County insurance consortium
  Auburn Citizen
  The city of Auburn is hoping to save on employee health insurance expenses by partnering with several countywide municipal agencies under a unified association. Auburn lawmakers are considering the city's membership into the Cayuga County Health ...
  
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• US colon cancer care improves when insurance access expands - Reuters

  05-10-2016 23:40 via reuters.com
  
  US colon cancer care improves when insurance access expands
  Reuters
  (Reuters Health) - Americans with colon and rectal cancers may get better care when states expand access to health insurance, a new study suggests. In Massachusetts, after the state expanded access to health insurance, patients with these cancers were ...and more »
  
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• MetLife Opts for Spinoff of Life Insurance Operations - Wall Street Journal

  05-10-2016 23:22 via wsj.com
  
  Wall Street Journal
  MetLife Opts for Spinoff of Life Insurance Operations
  Wall Street Journal
  MetLife Inc. MET 2.50 % is opting for a spinoff to existing shareholders as it divests a big chunk of its U.S. life-insurance business, resolving one of the key questions about its plan to shrink for regulatory and strategic reasons. The plans, filed ...and more »
  
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• How Much Insurance Money Will Kim Kardashian Receive for Her Stolen Jewels? That Depends - Billboard

  05-10-2016 21:39 via billboard.com
  
  Billboard
  How Much Insurance Money Will Kim Kardashian Receive for Her Stolen Jewels? That Depends
  Billboard
  A few hours after midnight on Monday morning, Kim Kardashian West was robbed at gunpoint in her Paris hotel of what is now estimated to be more than $10 million worth of jewelry -- a story that has captivated the media, both in Europe and the U.S., in ...and more »
  
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• NASCAR driver Danica Patrick explains why everyone should have life insurance - CNBC

  05-10-2016 20:49 via cnbc.com
  
  CNBC
  NASCAR driver Danica Patrick explains why everyone should have life insurance
  CNBC
  Danica Patrick prior to the Folds of Honor Quiktrip 500 NASCAR Sprint Cup series race at the Atlanta Motor Speedway in Hampton, GA. SHARES. Three out of five Americans own some sort of life insurance, but only 51% of millennials have coverage.
  
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• South Carolina, Florida Order Evacuations as Hurricane Matthew Approaches Southeast

  05-10-2016 18:58
  
  The governors of Florida, Georgia and South Carolina have ordered a State of Emergency for each of their respective states as Hurricane Matthew makes its way up the Southeast coast after battering Haiti and Cuba. The Florida Division of Emergency …
  
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• Class action alleges misleading marketing of travel insurance by American Airlines

  05-10-2016 18:50
  
  Did American Airlines deceive customers when selling travel insurance with plane tickets? A recently filed class action thinks so.
  
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• Oregon Farmers Sue Irrigation District Over Water Cutoff

  05-10-2016 18:49
  
  Malheur County farmers are suing their local irrigation district in Oregon, claiming it failed to deliver water when needed in 2014 and 2015. The Oregonian/OregonLive reports that Delos and Barbara Lee, who farm alfalfa and hay, filed a lawsuit against …
  
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• P/C Insurers Report $1.5B Net Underwriting Loss in First Half of 2016

  05-10-2016 18:44
  
  Private U.S. property/casualty insurers reported a $1.5 billion net underwriting loss in the first half of 2016-the first year-to-date net underwriting loss in more than three years-and saw their net income after taxes drop to $21.7 billion in first-half 2016 …
  
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• Outlooks Revised to Negative for Texas Farm Bureau Casualty Insurance, Subsidiary

  05-10-2016 18:35
  
  A.M. Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of “a” of Texas Farm Bureau Casualty Insurance Co. (Texas Casualty) and its subsidiary, Farm Bureau County …
  
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• How the Insurance Industry Courts State Commissioners - BillMoyers.com

  05-10-2016 18:27 via billmoyers.com
  
  BillMoyers.com
  How the Insurance Industry Courts State Commissioners
  BillMoyers.com
  A Center for Public Integrity probe reveals cozy relationships, revolving doors and shady financial ties. By Michael J. Mishak | October 5, 2016. Drinks, Dinners, Junkets and Jobs: How [...] Aetna Chairman, CEO & President Ronald Williams (L) speaks as ...and more »
  
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• Hub International Acquires North Dakota-Based Mayport Insurance & Realty

  05-10-2016 18:20
  
  Chicago-based insurance brokerage, Hub International Limited (Hub), has acquired the assets of Mayport Insurance & Realty Inc. (Mayport) in North Dakota. Terms of the acquisition were not disclosed. Based in Portland, North Dakota, Mayport specializes in providing property/casualty insurance products and …
  
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• 3.5 Magnitude Earthquake Hits Northern Oklahoma, Near Pawnee

  05-10-2016 18:14
  
  A 3.5 magnitude earthquake struck northern Oklahoma on Tuesday morning, hitting the same spot where a record setting temblor was centered a month ago. The U.S. Geological Survey says Tuesday’s earthquake hit shortly after 4 a.m. with an epicenter about …
  
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• Hundreds of Buildings Evacuated in Colorado as Fire Rages

  05-10-2016 18:12
  
  A wind-whipped wildfire destroyed several structures and forced hundreds of evacuations near a small mountain community in southern Colorado, authorities said. More than 500 buildings were evacuated throughout the day and into the evening on Oct. 3, affecting about 1,250 …
  
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• Fire Forces Evacuations of Hundreds of Buildings in Colorado

  05-10-2016 18:12
  
  A wind-whipped wildfire destroyed several structures and forced hundreds of evacuations near a small mountain community in southern Colorado, authorities said. More than 500 buildings were evacuated throughout the day and into the evening on Oct. 3, affecting about 1,250 …
  
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• Texas Hospital Chain to Pay $513M to Settle Kickback Claims

  05-10-2016 18:09
  
  Texas-based Tenet Healthcare Corp. and two of its Atlanta subsidiaries have agreed to pay more than $513 million to resolve criminal and civil claims accusing the chain of paying kickbacks to steer pregnant Medicaid patients to their hospitals. Under a …
  
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• Texas Hospital Chain to Pay $513M to Settle Georgia Kickback Claims

  05-10-2016 18:09
  
  Texas-based Tenet Healthcare Corp. and two of its Atlanta subsidiaries have agreed to pay more than $513 million to resolve criminal and civil claims accusing the chain of paying kickbacks to steer pregnant Medicaid patients to their hospitals. Under a …
  
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• Louisiana State, Local Governments Awarded $146M to Cover Flood Costs

  05-10-2016 18:08
  
  The Federal Emergency Management Agency has awarded Louisiana an additional $146 million to reimburse state and local governments for debris removal and other expenses related to this summer’s historic flooding. The funding announced by FEMA includes nearly $95 million for …
  
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• North Dakota Nonprofit to Open $6M Heavy Equipment Safety Training Facility

  05-10-2016 18:05
  
  The North Dakota Safety Council is beginning construction on a nearly 23,500-square-foot, hands-on heavy equipment safety training facility in Bismarck. The Bismarck Tribune reported that until now, companies have had to send workers to other states, such as Texas, for …
  
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• Lawsuit over Police Tactics in Ferguson Protests Tossed

  05-10-2016 18:03
  
  A federal judge has tossed out a $40 million civil rights lawsuit that alleged police used excessive force against protesters in Ferguson, Missouri, after the 2014 police shooting death of Michael Brown. U.S. District Judge Henry Autrey, in a 74-page …
  
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• Lawsuit over Police Tactics in Ferguson Protests Dismissed

  05-10-2016 18:03
  
  A federal judge has tossed out a $40 million civil rights lawsuit that alleged police used excessive force against protesters in Ferguson, Missouri, after the 2014 police shooting death of Michael Brown. U.S. District Judge Henry Autrey, in a 74-page …
  
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• Florida waits in Matthew’s path as Northeast dodges a strike

  05-10-2016 18:00
  
  Florida, Georgia and South Carolina have urged residents to prepare for the storm and leave homes that could take a direct strike.
  
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• Around the P&C insurance industry: Oct. 5, 2016

  05-10-2016 18:00
  
  News from the Coalition Against Insurance Fraud, Generali Group and more.
  
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• Johnson Insurance acquires Arizona benefits firm - BizTimes.com (Milwaukee)

  05-10-2016 17:45 via biztimes.com
  
  BizTimes.com (Milwaukee)
  Johnson Insurance acquires Arizona benefits firm
  BizTimes.com (Milwaukee)
  Racine-based Johnson Insurance Services today announced it has acquired Scottsdale, Arizona-based Monterey Benefits LLC. The terms of the transaction were not disclosed. The employee benefits firm, which has seven employees, offers group health, ...
  Johnson Insurance acquires Monterey BenefitsJournal Timesall 2 news articles »
  
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• Cover holders, risk takers meet in Baltimore

  05-10-2016 17:30
  
  Gathering of insurance syndicates and insurers with ideas for new products billed as "constitutional convention" for new CHART organization.
  
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• Not “A Better Way”: Trump's plan would leave millions without health insurance - American Enterprise Institute

  05-10-2016 16:36 via aei.org
  CBS News
  Not “A Better Way”: Trump's plan would leave millions without health insurance
  American Enterprise Institute
  Throughout the 2016 presidential campaign, Donald Trump has made it clear he opposes the Affordable Care Act – a.k.a. Obamacare. He also has stated repeatedly that he wants to “take care of everybody,” and has offered up a few ideas of what that might ...
  Millions leaving government insurance money on the table?CBS News
  2.5 million Americans ar
  
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• New Jersey Train Engineer Says He Can’t Remember Crash

  05-10-2016 16:36
  
  The engineer at the controls of the train that smashed into a commuter rail terminal, killing a woman and injuring more than 100 people, told federal investigators he was going only 10 mph as he approached the station but has …
  
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• CoverHound’s Cyber Insurance Site Now Open for Small Businesses

  05-10-2016 15:42
  
  Two weeks after unveiling insurance offerings for small businesses on its online platform, CoverHound has launched another website—CyberPolicy.com—with cyber protection tools for a similar target market. Initially targeting slightly smaller businesses—those with 15 employees or fewer—CyberPolicy.com went live on Oct. …
  
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• Trial Underway for Owner of Maine Building Where 6 Died in Fire

  05-10-2016 15:17
  
  An apartment house where six people died in a fire had been neglected during foreclosure and lacked alternative exits, allowing several bedrooms to become “death traps” when the blaze spread upstairs, a prosecutor said Monday to open the homeowner’s manslaughter …
  
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• Residents Forced Out of Virginia Condo Complex After Building Sinks

  05-10-2016 15:10
  
  Several dozen people still cannot return to their Alexandria, Va., homes over fears that their condominium building could collapse. The building, part of River Towers Condominiums, was evacuated Sunday afternoon after officials say significant water damage to some of the …
  
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• Slice Offers On-Demand Insurance To Cover Home Sharing Hell - Forbes

  05-10-2016 15:04 via forbes.com
  
  Forbes
  Slice Offers On-Demand Insurance To Cover Home Sharing Hell
  Forbes
  Humans are pretty terrible. Not all humans, but enough that when you read that statement you nod your head and generally agree. We live in an on-demand world and sharing services have becoming the new normal. We share rides with Uber and we share ...
  Slice Labs Launches On-Demand Homesharing Product ...Insurance Networking News
  Slice Launches the First On-Demand Insurance Product in the US ...Business Wire (press rel
  
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• Pennsylvania Helps High School Students Better Understand Auto Insurance

  05-10-2016 14:58
  
  Pennsylvania education secretary Pedro Rivera and Insurance Commissioner Teresa Miller are focusing on helping high school students better understand car insurance. An interactive lesson titled “Insurance 101” was recently debuted for educators and students at Central Dauphin East High School …
  
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• Marsh Hires Maryland-Based Hewett to Construction Practice

  05-10-2016 14:42
  
  Global insurance broker Marsh has hired David Hewett as a U.S. contract surety leader in its construction practice. In this newly created role, Hewett will work closely with Marsh’s surety practice to deliver solutions to construction clients across the U.S. …
  
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• Hurricane Matthew threat dampens Bay area insurance stocks - Tampa Bay Business Journal

  05-10-2016 14:03 via bizjournals.com
  Tampabay.com
  Hurricane Matthew threat dampens Bay area insurance stocks
  Tampa Bay Business Journal
  Stock prices for three Tampa Bay property and casualty insurers tumbled Tuesday, as Hurricane Matthew's track shifted closer to Florida. Shares of United Insurance Holdings Corp. (NASDAQ: UIHC) were down 2.7 percent, HCI Group Inc. (NYSE: HCI) stock ...
  Citizens Property Insurance suspends writing policies as Hurricane Matthew threatens FloridaTampabay.com
  Prepare now for post-storm insurance
  
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• Fewer British firms have cyber insurance policies -PwC - Reuters

  05-10-2016 14:02 via reuters.com
  
  Fewer British firms have cyber insurance policies -PwC
  Reuters
  Oct 5 The number of British firms insured against cyber threats has fallen sharply in the past year even though many doubled their security budgets after some high-profile companies suffered attacks, a survey by PwC showed on Wednesday. The auditing ...and more »
  
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• Health insurance startup sending NYC jobs to Arizona | New York Post - New York Post

  05-10-2016 13:48 via nypost.com
  
  New York Post
  Health insurance startup sending NYC jobs to Arizona | New York Post
  New York Post
  Oscar Health is laying off 31 employees at its headquarters in the Puck Building in Soho. The cuts at the insurance startup — co-founded by 31-year-old tech ...
  New York-based health insurance startup Oscar moving jobs to TempePhoenix Business Journalall 4 news articles »
  
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• Vullo seeks corporate, consumer balance as N.Y. insurance regulator

  05-10-2016 13:15
  
  For Maria Vullo, being both pro-business and pro-consumer is part of the job as the state's superintendent of banks and insurance companies.
  
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• App aims to help truckers find parking places off of the highway

  05-10-2016 13:00
  
  Professional truck drivers now have access to an app that will help them find a safer place to park their trucks than highway shoulders, improving highway safety and avoiding accidents.
  
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• 6 categories of questions you'll be asked when applying for cyber coverage

  05-10-2016 13:00
  
  Each carrier uses its own form for cyber coverage, but there are some common categories they all ask about.
  
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• Insurers starving for ‘triple threat’ cybersecurity talent

  05-10-2016 12:00
  
  While money is usually no object and tech tools are abundant for insurers struggling to contain cybersecurity threats, talent is often in short supply.
  
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• Sompo-Endurance: Japan's Insurance Shopping Spree Restarts With a Bang - Wall Street Journal

  05-10-2016 11:08 via wsj.com
  
  Wall Street Journal
  Sompo-Endurance: Japan's Insurance Shopping Spree Restarts With a Bang
  Wall Street Journal
  For Japanese insurers enduring negative yields at home, going abroad is a quick way to soothe the pain. Casualty insurer Sompo Holdings 8630 6.49 % said it will buy New York-listed Endurance Specialty Holdings ENH 4.42 % for $6.3 billion. That will add ...
  Delta Lloyd, Endurance Deals May Herald a Wave of Insurance M&AsInsurance Journal
  A.M. Best Comments on Credit Ratings of
  
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• China’s Shenzhen Qianhai Reported to Be Buying Singapore Reinsurer ACR Capital

  05-10-2016 10:37
  
  Shenzhen Qianhai Financial Holdings Co. is close to an agreement to buy  ACR Capital Holdings Pte, a reinsurer backed by Singapore’s Temasek Holdings Pte, for about $1 billion, according to people with knowledge of the matter. A deal may be announced …
  
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• London Insurance Market Prepares to Hold Catastrophe Response Test

  05-10-2016 10:30
  
  The London insurance market plans to test its response this month to a major catastrophe on the scale of the 9/11 attacks, the chairman of insurer Hiscox said on Tuesday. While insurers have coped with regular hurricanes, earthquakes and terrorist …
  
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• London Insurance Market Prepares to Hold Catastrophe Response ... - Insurance Journal

  05-10-2016 10:30 via insurancejournal.com
  
  Insurance Journal
  London Insurance Market Prepares to Hold Catastrophe Response ...
  Insurance Journal
  The London insurance market plans to test its response this month to a major catastrophe on the scale of the 9/11 attacks, the chairman of insurer Hiscox s.and more »
  
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• Wells Fargo Account Scandal Included Small Businesses, Says Senator

  05-10-2016 10:24
  
  The scandal over improper sales practices at Wells Fargo & Co extended to thousands of small-business owners, according to a U.S. lawmaker, raising questions about the scope the bank’s issues with unauthorized accounts. In a Sept. 29 letter viewed by …
  
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• British Financial Industry Tallies Lost Jobs, Revenue from ‘Hard Brexit’

  05-10-2016 10:13
  
  The British financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called ‘hard Brexit’ that would leave it with restricted access to the European Union’s single market, according to a report on Tuesday commissioned …
  
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• Japan’s SOMPO to Acquire Endurance for $6.3 Billion

  05-10-2016 10:02
  
  Japan’s SOMPO Holdings Inc. has agreed to acquire all of the outstanding ordinary shares of Bermuda’s Endurance Specialty Holdings Ltd.  for $93 per share in cash. The aggregate consideration is approximately $6.3 billion, which represents approximately a 40.3 percent premium …
  
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• U.S. Sees Automakers Complying with Voluntary Guidelines for Autonomous Vehicles

  05-10-2016 08:00
  
  U.S. Transportation Secretary Anthony Foxx told Reuters he expects automakers and tech companies will comply with voluntary guidelines his department issued last month for autonomous vehicles. The National Highway Traffic Safety Administration (NHTSA), an agency of Foxx’s department, has called …
  
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• How Uber Plans to Transform the Long-Haul Trucking Business

  05-10-2016 07:30
  
  With its recent acquisition of self-driving truck startup Otto, Uber Technologies Inc. is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry. Otto plans to expand …
  
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